Johnson & Johnson beats expectations, as earnings jump 37%
US health care giant Johnson & Johnson (NYSE: JNJ) reported fourth-quarter and full-year 2013 financials, showing earnings and sales had exceeded analysts’ forecasts, as the firm’s newest drug products performed exceptionally well.
For the fourth quarter, net earnings leapt 37% to $3.5 billion on $18.36 billion in revenue, up 4.5%. Earnings per share were $1.23, compared with $0.91 in the like 2012 quarter when J&J took a charge of $800 million related mostly to recalls of defective metal-on-metal hip replacement devices and $0.07 above the consensus estimate.
The company reported net earnings of $13.8 billion for the full-year 2013. Fully reported EPS came in at $4.81, $0.15 ahead of Wall Street’s $4.66 consensus estimate. Group sales were $71.3 billion, up 6.1%. Domestic sales jumped 7.4%, while international sales increased 2.4%.
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